RATE Group | Bitcoin Prices Rise But Institutions Are Still Cautious
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Bitcoin Prices Rise But Institutions Are Still Cautious

26 Jul Bitcoin Prices Rise But Institutions Are Still Cautious

Posted at 22:06h in Bitcoin News by

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Welcome back.

Bitcoin staged a comeback in July on the wings of an unexpected buy-the-dip surge, optimistic market sentiment and anticipation of the first bitcoin exchange-traded fund by year-end. Cryptocurrency markets suffered steep losses in the first half of the year. Bitcoin prices dropped by more than 53% and the overall market cap of cryptocurrencies declined by as much as 59% in the same period.

However, there’s a noticeable uptrend in the price of Bitcoin, other altcoins, and the general cryptocurrency market as bulls start to reassert their control over the market. Bitcoin is now trading up around $8,230.

One-time hedge fund billionaire Mike Novogratz is one of the most vocal evangelists of cryptocurrencies. In a recent interview with The Street he noted that institutional investors are slowly coming to the realization that blockchain is the future of the global economy.

In his words:

“Their first way of participating is going to be through venture-capital funds……

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